Founded in 1957, Mortgage Guaranty Insurance Corporation (MGIC) is the originator of the modern private mortgage insurance industry. As the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), the company's primary business is to provide credit risk protection to mortgage lenders and investors. This insurance allows borrowers to purchase homes with a down payment of less than 20%, thereby expanding homeownership opportunities while mitigating the lender's financial risk in case of borrower default.

Founded in

United States